Consortium Founder Sean Worthington's patent for the underlying technology that makes CloudCoin work has been granted by the US Patent and Trademark Office.

This means the patent application, entitled "Method of Authenticating and Exchanging Virtual Currency,
"
will be protected from infringement or encroachment for a decade after
issuance. We now know the network of distributed, decentralized and
independent servers, described in the patent application, as RAIDA
(Redundant Array of Independent Detection Agents).

This
is huge news for CloudCoin! The USPTO approval is a strong affirmation
of the value of the underlying protocol as a novel system for
authentication, as well as for its use as a blockchain alternative or
possible amelioration/supplement to overcome blockchain inefficiencies.

The
patent will become officially "issued" (rather than "granted") after
any "child patent" applications are included. Child patents can be filed
while the parent application is pending and links any future claims to
the priority of the first. The child patents may fall into three
classes: continuation (new claims about uses of the same patented
protocols), divisional (separating different elements of the patented
protocols) or continuation-in-part (new and different claims about the
potential of the technology).

Examples
of child patents would be any additional specific, new or different
applications for the same technology--and there have been many developed
since Worthington first filed almost three years ago (April 2017).

In a cash based monetary system (such as the US Dollar), we know who the owners of the money are because of something they have: Cash. However, RAIDA Tech realized that it is possible to know who the owners of a money are based on something they know: Passwords.

RAIDA tech developed a “Theory of Perfect Money” which states that monetary systems are information systems and money is data. The three essential ingredients of a monetary system are the same as any information system: Confidentiality, Integrity and Availability.

RAIDA Tech developed a list of the most desirable characteristics of money:

No usernames, accounts or logins for people (Instead the money has accounts)

Must be globally scalable (everyone in the world can use it at the same time).

Must be free to use without fees — extremely efficient.

Must be able to transact day or night all over the world instantly.

Must be difficult to steal and recoverable if lost.

Data Supremacy: Must be 100% available and fault tolerant to hackers, programming errors, governments, natural disasters, even nuclear wars.

Cannot be counterfeited, double spent, rolled back.

RAIDA Tech achieved all these goals by creating a global data structure based on the DNS that we call the RAIDA (Redundant Array of Independent Detection Agents). The RAIDA has no systemic risk of failure and is much more secure than the Blockchain.

RAIDA Tech’s first problem to solve was that of “Data Supremacy.” The Blockchain had already solved this problem. But, so has the global DNS system which has 13 root servers located all over the world. We choose to work from the DNS system since it is so efficient, globally scalable and has never gone down since the day it was created in 1985.

The RAIDA was deployed August 2016 and has never gone down. It is made up of 25 Clouds (twice that of the DNS) located all around the world and — like the DNS — controlled by independent administrators. Unlike the Blockchain that allows miners to create new coins, the RAIDA allows its administrators to mine for permanently lost coins Coins that have not been spent for decades.

Here is how it works:

I have a RAIDA Coin. The RAIDA Coin is a file with a serial number and 25 random GUID Authenticity Numbers (passwords). If I want to buy something from you, I will give you my file. Now we both know that passwords. Anyone who knows the passwords can change the passwords. So you go to 25 RAIDA in parallel and change them all. Now, you are the new owner because only you know the passwords.

Because of the speed of light, the system can contact 25 Clouds in parallel all over the world in less than 2 seconds. Here is a sample call to one cloud:

This is the starting point for understanding RAIDATech’s technology. RAIDA Tech will deliver a digital currency that:

Can process millions of transactions per second. (The highest velocity in the world). Our transactions require less bandwidth, processing power, hard drive storage or energy than any other payment system (Visa, PayPal, Debit Cards, Western Union, Bank Transfers, and even Cash).

Can process world’s entire transactions concurrently. (Most scalable currency in the world). Like the global DNS system that handles billions of requests every day, we can do the same.

Transactions take less than 2 seconds on average (Quickest Payment system in the world). The RAIDA used by CloudCoin requires less than .5 seconds.

System cannot be manipulated, corrupted or double spent by hackers, governments or you (Payment system with the most integrity in the world). Our authentication uses 25 independent and redundant systems located all over the world. No systemic risk of failure. Twice the number used by the DNS root servers.

100% up-time (Most available payment system in the world).

Requires no user accounts, logins, or user passwords (Easy to use).

No tracking of payments (Most private currency in the world).

No permanent loss of currency (The only currency that can be recovered if lost)

No systemic risk of theft. (Safest Currency in the world)

No transaction fees (Retail micro payments are fine.)

Can “crossover” into video games and virtual reality. (Worlds only Crossover currency)

Can be spent over any time (24/7) and space (world). Could be used to trade between Earth and Mars.

Lead Scientist Sean Worthington receiving recognition from
@CocaCola
at the Advanced & Intelligent Packaging Industry Association
@AIPIAcongress
. He will be talking to CocaCola again soon! Worthington has ideas on how to increase #recycling using CloudCoin.

Developers have begun testing a prototype for a new RAIDA-based email system.The first version was completed last month, but sent back to developers to add more features and functionality in order make it more like Gmail and other solutions.RAIDA mail shreds each composition (and any attached files) into 25 different stripes, making it millions of times more secure than encryption. Content is protected while being uploaded or downloaded from servers, and the service quantum-safe.The mail service will not collect personal information from email text for targeted advertising, and will not store any private user data.

Several of the world's biggest companies expressed interest in incorporating RAIDA technology in their commercial packaging at the Active & Intelligent Packaging World Congress during November in Amsterdam.Sean told attendees at the Active & Intelligent Packaging World Congress during November in Amsterdam that RAIDA-based solutions offer safer, more effective and more affordable ways to achieve smart packaging goals and better engagement between brands and consumers.CloudCoin lead scientist Sean Worthington addressed the weaknesses of blockchain and the RAIDA alternative among hundreds of global business leaders during the Active & Intelligent Packaging World Congress during November in Amsterdam.

Sean WorthingtonCEORAIDA TechSean Worthington is a computer science professor turned philosopher, economist, inventor and CEO. He is the author of Beyond Bitcoin: The Future of Digital Currency and The Informational Theory of Money. His startup company RAIDAtech develops innovative applications for his provisionally-patented RAIDA (Redundant Array of Independent Detection Agents) technology. RAIDA is the world’s most secure data transfer protocol and also offers compelling, environmentally-responsible solutions for customer engagement and authentication. He has appeared on over 100 television and radio programs to discuss his theories and his vision of a future where monetary systems follow the secure, logical rules that computer scientists apply to information systems.